Former Goldman Sachs hedge fund manager and cryptocurrency bull Raoul Pal claimed in a tweet that he now only owns a single Bitcoin. <\/p>\n
As the claim was made in the heat of a Twitter fight with self-proclaimed \u201cBitcoin Strategist\u201d Greg Foss it\u2019s not entirely clear whether it\u2019s an exaggeration or an accurate statement about his holdings. Pal is the founder and CEO of Real Vision and Global Macro while Foss is an executive director at Validus Power Corp. <\/p>\n
The revelation of his apparently small holding certainly caused uproar and angst among Bitcoin true believers, who\u2019ve looked at Pal askance ever since he started calling Ethereum \u201cthe greatest trade\u201d and predicted that ETH and altcoins will eventually outperform BTC. <\/p>\n
Pal first purchased BTC in Nov 2013. He sold for a 10X profit in the so-called \u201cfork-wars\u201d of 2017 (missing out on an even bigger gain later that year) before adding to his collection in 2019 through 2020. In May 2021, he confirmed that he owned more ETH than BTC. At time of writing, Bitcoin (BTC) is worth $40,925.<\/p>\n
The barney was instigated by Foss, who tweeted \u201cRaoul is soft\u201d followed by another intellectual tweet, \u201cRaoul sucks and blows\u201d shortly after. After some back and forth between Pal and the Bitcoin maxi, Pal posted that people like Foss and the Bitcoin community\u2019s exclusionary ideology are why he only holds one Bitcoin. <\/p>\n
This upset the Bitcoiner community, many who claimed he had let emotion cloud logic. \u201cHis feelings are hurting his future,\u201d commented one user Emanuel in a reply to Bitcoin Meme Hub tweet. \u201cI knew when he started to sip Vitalik’s coolaid he was a goner,\u201d added another user, Jalan Foster.<\/p>\n
The founder of Synaptic Ventures Marc van der Chijs complained that the fact Pal only owns one BTC based on the makeup of the community and not on the potential return \u201cgoes totally against the gospel he preaches on RealVision.\u201d<\/p>\n
However, some defended Pal, pointing to his impressive track record and reminding followers that he is in fact a trader, not a holder. Crypto analyst and founder of Crypto My Way \u201cCoach T\u201d wrote that he appreciates Pal\u2019s \u201cdiverse views and intelligent thinking.\u201d <\/p>\n
It appears that the argument was in response to a disagreement on Pal\u2019s stance on inflation and bonds as a trading vehicle. Foss explained that he didn\u2019t support Pal promoting his trading strategy to others who don\u2019t entirely understand how it works. <\/p>\n
Pal disagreed, explaining that his views on bonds are \u201ca trade, not a philosophy.\u201d Despite this, in a following comment on the thread, Pal claimed that he doesn\u2019t own any bonds. <\/p>\n
Three hours after posting the original tweet attacking Pal, the argument eventually culminated in Foss tweeting an apology saying that he \u201cregrets his actions,\u201d adding that he \u201cmade a rookie error\u201d and that he has \u201cbigger battles to fight.\u201d<\/p>\n